IG Forex Broker Review – ☑️ Unbiased Pros & Cons Revealed ( 2022 )

IG forex broker Group Review
IG Group can be summarised as a trustworthy broker that provides user-friendly trading conditions and quality educational material.

It can be considered a low-risk option which is an excellent fit for pro traders.


🔎 Broker ✅ IG Group
💰 Trading Fee Class High
💵 Inactivity Fee ✔️ Yes
💳 Minimum Deposit $140 USD / R2000 ZAR
💡 Base currencies 6
✅ Demo Accounts ✔️ Yes
📌 Products Offered ETF, Forex, Options
🔎 Open an Account 👉 Click Here


IG Group Review – A 16 Key Point Quick Overview


  1. ✅ IG Overview
  2. ✅ IG Sign-Up Bonus
  3. ✅ IG Minimum Deposit
  4. IG International Account
  5. How to Open an IG Account – Step by Step Guide
  6. IG Islamic Account
  7. IG Demo Account
  8. How to Open an IG Demo Account
  9. IG Corporate Accounts
  10. IG Proprietary Trading Platform
  11. IG Fees, Spreads, and Commissions
  12. IG vs Exness vs XTB – A Comparison
  13. IG Customer Reviews – TrustPilot
  14. IG Pros and Cons
  15. Conclusion
  16. Frequently Asked Questions



IG Overview


IG is a leading online trading provider that offers traders access to opportunities across thousands of financial markets through intuitive platforms and apps.  IG is authorized and regulated by the Financial Conduct Authority (FCA) and the Financial Sector Conduct Authority (FSCA).


IG Markets South Africa Limited was established in 2010 with a head office based in Sandton, South Africa.


IG Landing Page


IG Sign-Up Bonus


IG does not offer a Sign-Up bonus or welcome bonus at this time (2022). IG does not offer a deposit or no deposit bonus, in principle with first-time sign-up, but minimum deposits are seen as fair.


IG Landing Page 2


IG Minimum Deposit


Opening an IG Account does not require a Minimum Deposit with the maximum deposit amount per day being R20,000 ZAR when using a card or phone.  There is no maximum deposit limit on bank transfers.  The minimum deposit on an International account is R4000 ZAR, or the equivalent thereof.  The minimum deposit will be displayed on the payments screen when the payment is processed.


IG Open an Account Final



IG International Account Overview


The IG International Account Option allows investors to trade the global markets, a requirement set by the South African Reserve Bank.  Once an Application form has been completed for an IG International account, the applicant will automatically receive an additional domestic count.


🌎 International Markets 17,000 Markets
💳 Instant Online Funding Credit or Debit Card
🤝 Dedicated Local Support Johannesburg Based Team
📈 Spreads Tight Spreads
📊 Deep Liquidity Highly Liquid 24/7 Key Markets
🚀 Open an Account 👉 Click Here


Having both an International and Domestic account allows the investor to trade on both local and offshore markets.  However, it is up to the applicant whether or not they choose to fund both accounts.  Furthermore, the applicant will receive an accompanying Demo account for each.


🔎 Market ✅ Overview
📊 Shares 12,000+ International Shares
📈 Forex 80 currency pairs
📉 Indices Wall Street, FTSE100 and more
🌾 Commodities 26 Key Commodities
⏳ Weekend Trading 27/7 Markets
💻 Other Markets Bonds, Rates and Options

How to Open an IG International Account – Step by Step Guide


1. Step 1:  Create Live Account

Start the application by clicking on the green “Create Live Account” button located on the landing page or throughout the website in the header of the page.


IG Landing Page 2


2. Step 2:  Registration Form

The applicant must start setup by supplying general information including a valid email address and country of residence.


IG Open an Account 2


3. Step 3:  Complete Personal Information

The next step will nee more personal information to be added, including the applicant’s direct contact details and identification number.


IG Open an Account 3


4. Step 4:  Adress Details

The applicant must complete their address details to move on to the final steps of the registration process.


IG Open an Account 4


5. Step 5: Financial Information

The second last step is to complete Financial details, including the applicant’s annual income and employment history.


IG Open an Account 5


6. Step 6: Trading History

In the final step, Applicants must provide their trading history.  Once this step has been completed, the application can be saved and closed.


IG Open an Account Final


IG Islamic Account

In recent years IG did make an IG Islamic, Swap-Free Forex trading account option available to traders based in the country of Dubai.  However, at this time (2022), the IG Islamic, Swap-Free Forex Trading account option is no longer made available.


IG Islamic Account



IG Demo Account Overview


Demo Account applicants will be able to access two different Demo accounts via a single login.  Both the Domestic and International Demo Accounts allow the user to mimic the use of both live trading accounts without the risk.


🔎 IG Demo Accounts 🥇 Domestic Demo 🥇 International Demo
💳 Virtual Funds R1,000,000 ZAR £10,000
📰 News Feeds & Live Updates ✔️ Yes ✔️ Yes
💻 Compatibility Windows, iOS, Android Windows, iOS, Android
☑️ Educational Content ✔️ Yes ✔️ Yes
✅ Markets South African International
Open a Demo Account 👉 Click Here 👉 Click Here


Here is a breakdown of each Demo Account on offer.


IG Domestic Demo Account


🔎 Account ✅ Domestic Demo
💳 Virtual Funds R1,000,000 ZAR
📌 Markets South African Stocks
South African ETFs
South Africa 40
🚀 Open a Demo Account 👉 Click Here


IG International Demo Account


🔎 Account ✅ International Demo
💳 Virtual Funds £10,000
📌 Markets 17,000 +
🚀 Open a Demo Account 👉 Click Here



How to Open an IG Demo Account


Opening an IG Domestic or International Demo account is a one-step process.  The applicant will be required to complete a short online registration form and submit it.


IG Demo Account


IG Corporate Accounts


IG offers trading solutions for institutional and retail corporate clients.  These account options are based on powerful technology, a massive range of tradeable markets, and dedicated user support.


IG Institutional Corporate Accounts


✅ Institutional Groups included 🔎 Account Features
Regulated Entity Professional Platforms
Bank or Brokerage Firm Trading API’s
Investment Manager 17,000+ Markets
Private Investment Office Deep Liquidity
Professional trader Dedicated Service
🚀 Open an Account 👉 Click Here


A Retail corporate Account is also made available for retail traders who which to trade the markets through a corporate structure without being an institutional client.


IG Corporate Accounts


How to Apply for an IG Corporate Account


IG Corporate account applicants must fill out an application form which can be downloaded here.  Once the application form has been completed it must be emailed to [email protected]  Applicants must ensure that all required supporting documentation is included.


IG Corporate Accounts Application



IG Proprietary Trading Platform Overview


A trading IG Trading Platform is a proprietary trading platform that can be used to research, place, monitor, and edit trades. IG users can choose from a wide selection of platforms, including desktop platforms, trading apps, web-based platforms, and third-party programs including MT4, ProRealTime, and APIs.  However, the IG proprietary Trading Platform remains the top choice.

The Platform includes an easy-to-use deal-ticket, smart charts, News and Analysis, IG Live, Alerts, Signals, and a Customisation Option.


IG Trading Platform

IG Fees, Spreads, and Commission


IG offers transparent pricing with Spreads being as little as 0.8 pips.


IG Spreads and Margins


Traders will pay a spread on each trade made.  The term spread refers to the difference between two prices, rates, or yields.


IG Spreads and Margins – Major Forex Pairs


💵 Currency Pair 💰 Value Per Pip 📈 Minimum Spread 📉 Average Spread 📊 Margin Required
AUD/USD $10 1 1.2 3%
EUR/GBP $10 1 1.4 3%
EUR/USD $10 0.8 1.0 2%
GBP/USD $10 1 1.4 3%
USD/JPY Y1000 0.8 1.0 2%


IG Spreads and Margins – Minor Forex Pairs


💵 Currency Pair 💰 Value Per Pip 📈 Minimum Spread 📉 Average Spread 📊 Margin Required
CAD/CHF CHF10 3 4.1 3%
GBP/CAD C$10 4 5.5 3%
GBP/ZAR ZAR10 200 253.9 7%
USD/SGD SGD10 4 5.4 5%
USD/ZAR ZAR10 110 158.3 7%


IG Spreads and Margins


Additional IG Services and Charges


Funding and Interest are charged on Forex trades with additional fees including:


  • Overnight Funding Fees
  • Currency Conversion Charges
  • Inactivity Fee
  • Third-Party Claims


IG Best Countries by Traders


🌎 Country of Trade 📌 % of Traders
🥇 United Kingdom 23.83%
🥈 Poland 14.22%
🥉 United States 10.27%
India 7.93%
South Africa 4.26%
🚀 Open an Account 👉 Click Here


IG Target Market


IG vs Exness vs XTB – A Comparison


🔎 Broker 🥇 IG 🥈 Exness 🥉 XTB
📌 Spot Forex Yes Yes Yes
📌 Forex CFD Yes No Yes
📌 CFD Yes No Yes
📌 Spread Betting Yes No No
📌 Forex Currency Pairs 90 103 48
📌 Commodities 34 0 21
📌 Stocks Offered 8000 0 1606
💻 MT4 Yes Yes No
🔋 Demo Account Yes Yes Yes
✅ Scalping Yes Yes Yes
☑️ Hedging Yes Yes Yes
🛑 Stop Losses Yes No Yes
🚫 Limit Orders Yes Yes Yes
💳 Credit Card Funding Yes Yes Yes
💵 Inactivity Fee Yes No No
💰 Commission 0.1% $10 – $30 ✔️ Yes
🥇 Rating (10) 9.8 9.5 9.7
🚀 Open an Account 👉 Click Here 👉 Click Here 👉 Click Here



IG Customer Reviews – TrustPilot


Finally Resolved

Had a problem I have been trying to resolve for some months now and Ullas, from tech support, was very polite, friendly, and patient. Finally received a fix and some useful information as well. Great work Ullas. – John


IG 5 Star Review

New trading account.

Just opened up a new share account with IG. Process was straight forward. It took a bit longer than I expected as requests for more documents was not picked up in one hit. However I had a good customer relations team member (Mr Lefteris Eleftheriades) who was very supportive in explaining issues regarding the delays and why up to date and recent documentation was needed. Overall his support was great as he was easily reachable by phone and email and kept us up to date with the progress of our application. – Dolon


IG 4 Star Review


New to IG

I appreciate the constant communication by IG, but it was frustrating not to receive specific instructions from only one operator on how to go about withdrawing funds for the first time. It took several phone calls and emails before any success. I was also not aware that this was a CFD account and that I was not able to trade internationally, as it is only a domestic account. I realize I should probably have done better research. – Marilize


IG 3 Star Review


IG TrustPilot Overview


IG Pros and Cons


✔️ Pros ❌ Cons
Excellent Web-Trading Platform High Forex and Stock CFD Fees
Excellent Educational Tools Limited Product Portfolio
Great Deposit and Withdrawal options Slow Customer Support
🚀 Open an Account 👉 Click Here




Overall, IG Group is a highly trusted, well-rated, top-tier regulated Forex Broker who offers traders a well-rounded trading experience.




IG Group gives ample warnings to traders that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.  They are warned to consider whether they understand how CFDs work and whether they can afford to take the high risk of losing their money.

With an IG CFD trading account, a trader can manage his or her exposure, using a range of risk management tools, including stops and automated alerts and IG will help them learn the essentials of risk management.

They suggest that a trader first practices his or her strategies by means of a demo account. 



You might also like: IG Account Types Overview

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Frequently Asked Questions



How many clients does IG have?


Nearly 240 000 active clients worldwide.


Is IG a safe broker?


Yes, read our IG broker review here.


Does IG trade gold?


Yes, you can trade CFDs on gold, palladium, and platinum.


Is CFD trading legal?


CFD trading is legal in South Africa and regulated by the Financial Services Board.


What is the best time to trade the forex market?


It depends on your personal risk preference as high liquidity and volatility can affect forex prices.


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